General Announcement for PLC

19/05/2021

MEMORANDUM OF UNDERSTANDING UCREST BERHAD ("UCREST" OR "THE COMPANY") - MEMORANDUM OF UNDERSTANDING ("MOU") WITH RUSSIAN DIRECT INVESTMENT FUND ("RDIF")

UCREST BERHAD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description 
UCREST BERHAD ("UCREST" OR "THE COMPANY") - MEMORANDUM OF UNDERSTANDING ("MOU") WITH RUSSIAN DIRECT INVESTMENT FUND ("RDIF")

Further to the announcements made by the Company on the MOU between Company and RDIF on 9 April 2021, 14 April 2021 and 28 April 2021, the Board of Directors of UCrest wishes to announce that the Company has on 19 May 2021 signed agreement with two contract manufacturers in China and secured the capacity to produce the Sputnik V vaccines of total no less than 312 million doses up to 960 million doses for a period of 24 months.

 

The agreements are not expected to contribute positively to the net assets per share and earnings per share of UCrest group for the financial year ending 31 May 2021 but expected to contribute positively to the group’s net assets per share and earnings per share in subsequent years when the deliveries of the Sputnik V vaccines are made.

 

UCrest does not foresee any exceptional risks other than pandemic risks, execution risks, political risks and country risks associated with the agreements.

 

None of the Directors and/or major shareholders of UCrest or persons connected with them have any interests, direct or indirect, in the agreements.

 

This announcement is dated 19 May 2021.



Announcement Info

Company Name UCREST BERHAD
Stock Name UCREST
Date Announced 19 May 2021
Category General Announcement for PLC
Reference Number GA1-19052021-00031


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